On Thursday, advancing for the third consecutive session, the 30-share BSE index climbed 417.96 points or 0.71 per cent to its new closing peak of 59,141.16.
Stock Market Today, September 17, 2021: The Nifty futures on Singapore Exchange traded 83 points, or 0.47 per cent, higher at 17,688.50, signaling that Dalal Street was headed for a positive start on Friday.Last Updated:September 17, 2021, 09:26 ISTFOLLOW US ON:
The Indian market on Friday opened in positive territory, the 30-share BSE Sensex was up 356.95 points, or 0.60 per cent at 59,498.11 and the broader nifty was trading at 17,732.70, up 103.20, or 0.59 per cent.
“Benchmark Indices are expected to open on a positive note as trends on SGX nifty indicates a gap up opening with 90 points gains. Shares in Asia-Pacific were mixed on Friday morning trade as investors react to mixed US economic data released overnight. The Cabinet approves issue of government guarantees up to Rs.30,600 crore for security receipts to be issued by NARCL: FM Sitharaman. SEBI mulls carving out separate AIF category to buy distressed loans from banks. Oil prices steadied on Thursday after hitting a multi-week high a day earlier as the threat to US Gulf crude production from Hurricane Nicholas receded. Crucial support for Nifty 50 is 17,550 while Nifty may face some resistance at 17,850,"Mohit Nigam, head - PMS, Hem Securities said.
“The market is now driven by momentum with valuations on the back burner. Even FIIs who were skeptical about valuations and sold heavily in July have come back strongly and are chasing the momentum. FIIs have invested Rs 5344 cr in the cash market during the last three days. Nifty has now appreciated by around 10000 points from the March 2020 lows. Even die-hard bulls would not have foreseen such a ferocious rally. Now the bulls are unlikely to let go off their grip on the market till 18000 on the Nifty/ 60000 on Sensex is reached. In 2021, till date, the Nifty IT has been outperforming the Nifty while Bank Nifty has been underperforming. There is a possibility of change in leadership of the market away from IT, perhaps to Banks. The announcement of the ‘bad bank’ road map and govt guarantees for security receipts to be issued by the NARCL will improve the prospects of banks, going forward," Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.